Buying or selling a home is one of the largest investments most people make. In addition to the financial elements, real estate transactions may also include emotions such as excitement about the next big step, pride in homeownership, and maybe a touch of the bittersweet. For many, it may also include some apprehension. But preparation can help us feel confident in navigating both the numbers and emotions that go along with a real estate transaction. A discussion of questions to expect, documents needed, and elements that may be analyzed can help to reduce the anxiety of starting the (pre)approval process.
How a financial readiness review can help
The Financial Readiness Review gives prospective clients the opportunity to ask questions about financial topics in a welcoming and low-pressure environment.
Budgeting
How much you qualify for at a bank may differ from how much you are comfortable spending on a house payment
Credit Scores
One of the major points of analysis for mortgage lenders, I can help explain how scores are calculated and the elements that may help improve your score.
Savings
Discussing savings strategies, and the importance of savings for down payments and reserves.
Debt
Another major point of analysis in mortgage lending; I can help discuss the importance of debt management in the home buying process.
If you would like to move forward with a Financial Readiness Review, please fill out the information below, and I will reach out to set up a mutually beneficial time to meet.
Todd Van Orman, MBA, BFA, Realtor®
My Background
In addition to my role as a REALTOR®, I have over two decades of experience in banking, investments, and financial education. I am passionate about helping others better understand their finances. My background includes:
Experience: Director of the Financial Services & Banking Program and Professor of Finance and Economics at the University of Mary (current), which includes teaching courses in Financial Literacy and Banking; 15 years of previous experience in banking and investments
Degrees and Certifications: MBA – University of Mary; BBA in Banking and Financial Economics – University of North Dakota; Behavioral Financial Advisor designation
Professional Boards and Volunteer Activities: Investment Committee for ND State Investment Board (current); Audit Committee for ND State Investment Board (current); Past member of Bismarck Renaissance Zone Authority; Past President of North Dakota Jump$tart Board of Directors (a statewide financial literacy organization); Volunteer for Real World Camp (a Bismarck area youth financial literacy event)
Disclosure: What a financial readiness review IS NOT
Despite my knowledge and experience, some financial questions require more specialized expertise. While I am happy to provide recommendations for professionals you can work with in the following areas, this financial readiness review will not:
Provide tax advice (I am not a CPA)
Provide legal advice (I am not an attorney)
Provide specific investment advice (I am not an Investment or Financial Advisor or Stockbroker)
Guarantee approval of a mortgage application (Each lender and mortgage program has differing requirements)
Finally, the review is NOT an obligation to work with me as a REALTOR®. My hope is that this process will give prospective clients a level of trust with me such that when they are ready to move forward with the purchase or sale of a property, they might consider working with me on the transaction. However, as noted above, I am passionate about financial literacy, and if all that comes out of the meeting is that prospective clients gain a better understanding of their financial position, then that is a worthwhile goal in itself.
c21morrison.com
©2022 . All rights reserved. CENTURY 21®, the CENTURY 21 Logo and C21® are service marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
